United States

Anti-Money Laundering

Five RCBC Bank Employees Charged with Money Laundering

By Editors | 25/05/2019

Five current and former bank employees have been charged with money laundering in the Philippines in connection with the 2016 Bangladesh Bank heist.

Credit Risk

Hong Kong-China Arbitration Arrangement a Boon for Lenders

By Manesh Samtani | 22/05/2019

The new arrangement enabling Hong Kong-seated arbitrations to seek interim measures from mainland courts represents a step forward for China’s offshore financiers.

Conduct, Culture & Accountability

Hong Kong: An Ecosystem Approach to Bank Culture Reform

By Jeffrey Kupfer | 21/05/2019

The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.

Anti-Bribery & Corruption

Ex-JP Morgan Managing Director Charged with Bribery

By Editors | 20/05/2019

A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for “showing favour” in hiring the bank for IPO sponsor work.

Reporting & Disclosures

Nasdaq Launches Global ESG Reporting Guide

By Editors | 17/05/2019

The new guide takes into account the TCFD recommendations, the UN Sustainable Development Goals, WFE guidance and best practices, and Nasdaq’s own pilot programme.

Trading & Investment

Sri Lanka Signs Dual Bond Listing Deal with London

By Editors | 14/05/2019

Colombo’s stock exchange has signed an MoU to list domestic government bonds in London and enable LSEG to support the development of Sri Lanka’s capital markets.

Structural Regulation

US SEC Proposes Amendments to Cross-Border Swaps Rules

By Editors | 14/05/2019

The proposals address issues in applying security-based swaps rules in a cross-border context, and leave supervision of foreign trading practices and market structures to home supervisors.

Anti-Money Laundering

Malaysia Extradites Former Goldman Banker to US

By Editors | 07/05/2019

Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.

Anti-Money Laundering

Philippine FIU Seeks an End to Bank Secrecy Law

By Editors | 07/05/2019

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.